The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (13767)	9/20/2003 1:18:14 PM
From: Elroy Jetson	Read Replies (3) of 306849

Money in bank accounts isn't in banks. The money is lent out to the housing bubble. The resulting losses will be socialized and paid for by the taxpayer, lest either the wealthy account holders or the bank's shareholders suffer a loss. It's called trickle-down. The tax cuts flow out to the wealthy - and the losses trickle back down to the state. As Ludwig von Mises or Charles Rist would point out, what currently passes for capitalism in the US is actually national socialism - only the current Fuhrer is not as charismatic or intelligent as the original.

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